Compound Management Market to 2027 – Global Analysis and Forecasts by Product & Services, Sample Type, Application, End User, and Geography
The global compound management market is expected to reach US$ 691.41 Mn in 2027 from US$ 220.19 Mn in 2018. The compound management market is estimated to grow with a CAGR of 14.2% from 2019-2027.
The market is driven by factors such as, rising drug discovery activities incorporation of artificial intelligence (AI) for faster drug development process. However, lack of skilled professionals may limit the growth of the market to a certain extent.
The compound management products are used for sample acquisition, storage with high-throughput compound screening. A modular automated sample storage system is efficiently designed for meeting the needs of the most challenging sample and compound management applications at temperatures to -20?C. The system can handle a broad range of labware types, which include vials, tubes, and plates, for accommodating current and future workflows. The advantages of system include rapid access storage that is scalable and easy to incorporate with complimentary automation for efficient sample management of growing compound libraries.
Though there are many advantages of compound management the instrument is expensive to acquire. To operate such expensive devices trained professional are required. Companies supplying these devices provide the basic training required to operate. Hence, high price as well as dearth of trained professionals for the handling of these instrument is anticipated to hinder growth of the compound management market.
Global compound management market was segmented by product & services, sample type, application and end user. The product and services were segmented into compound/sample management products which include instruments, automated compound/sample storage systems, manual compound/sample storage systems, automated liquid handling systems, software and sample type it was segmented in chemical compounds and biosamples. By application it is categorized in drug discovery, gene synthesis and biobanking. By end user pharmaceutical companies, biopharmaceutical companies, contract research organization (CRO’s) and others.
Some of the major primary and secondary sources included in the report are, Department of Biotechnology, Canadian Institutes of Health Research, Indian Council of Medical Research, Federation of Pharmaceutical Industries and Associations, Association of the Italian Pharmaceutical Industry, Bio Industry Association among others.